BETA Technologies, Inc. (BETA) vs Karman Holdings Inc. (KRMN)

BETA Technologies, Inc. and Karman Holdings Inc. are both Aerospace & Defense companies. BETA Technologies, Inc. is the larger, with a market value of $5.5B against $4.6B — 1.2× the size. BETA Technologies, Inc. has negative trailing earnings, so its P/E is not meaningful; Karman Holdings Inc. trades at 123×. Karman Holdings Inc. has the higher net margin (6.31% vs −2,343.9%) and the higher return on invested capital (5.09% vs −101.7%). Across the 16 metrics below, Karman Holdings Inc. leads on 11 and BETA Technologies, Inc. on 5.

Valuation

Metric BETA KRMN Aerospace & Defense median
P/E n/m 123.07 33.00
P/S 123.38 8.02 3.63
P/B 3.43 11.23 3.24
Price to free cash flow n/m n/m 34.01
EV/EBITDA n/m 35.42 18.69
EV/Sales 94.30 9.37 3.94
Earnings yield (54.59%) 0.81% 1.31%
Free cash flow yield (7.61%) (0.58%) 0.00%

Profitability

Metric BETA KRMN Aerospace & Defense median
Gross margin 60.06% 41.67% 25.48%
Operating margin (1,129.31%) 16.82% 4.54%
Net margin (2,343.89%) 6.31% 2.22%
Free cash flow margin (939.05%) (4.63%) 0.00%
Return on equity (328.55%) 9.50% 6.43%
Return on assets (108.72%) 3.10% 2.70%
Return on invested capital (101.73%) 5.09% 1.56%

Growth

Metric BETA KRMN Aerospace & Defense median
Revenue growth (TTM) — 50.23% 18.43%
EPS growth (last fiscal year) (110.89%) 62.50% —
Revenue growth, 5-year CAGR — — 9.62%
Net income growth, 5-year CAGR — — 0.00%

Health

Metric BETA KRMN Aerospace & Defense median
Debt to equity 0.11 2.01 0.24
Current ratio 14.47 3.56 2.72
Net debt to EBITDA 4.36 4.60 1.12

Dividend

Metric BETA KRMN Aerospace & Defense median
Dividend yield — — 1.04%
Payout ratio — — 0.00

Size

Metric BETA KRMN Aerospace & Defense median
Market cap 5.52b 4.64b 2.52b

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